After the JSW Steel bagged two iron ore mines with a total reserve of 980 million tonnes (MT) in Odisha, the ArcelorMittal India Pvt Ltd has now won the auction for the Thakurani iron ore block in the State.
The ArcelorMittal got the mines with a commitment to pay 107.55% of its sale value of ore to the State Government after starting production, an official said on Monday. The company would also pay taxes, District Mineral Foundation fund and other mining-related levies.
The Thakurani block has an estimated reserve of about 179 MT of iron ore.
Notably, the JSW Steel has won the Nuagaon mine, the largest iron ore block with a reserve of 790 MT, and the Narayanposhi block with a reserve of 190 MT.
A total of 19 iron ore blocks are being auctioned as their earlier lease periods would expire on March 31. The letters of intent to the successful bidders would be issued after the auction process is completed on February 18.
The next auctioning is for the Balda iron mines.